Economic Beat

No Sweat About Jobs

The Employment Report is filled with false signals.

SINCE THESE ARE THE NUMBERS THAT APPARENTLY try men's souls, it helps to recall the reaction to numbers that seemed equally trying at the time of original release, but soon proved to be soulless.

The trying numbers, released Friday as part of the Bureau of Labor Statistics' employment report for May, showed that nonfarm payroll employment rose by only 75,000 last month. Media accounts unhelpfully noted that this was less than half the...